president obama doesn't have to worry as much as the members of congress do because he's not on the ballot again. >> but if there's a second recession, doesn't that kill his second term? >> i hear republicans and democrats and obama want to come together on middle class rates. i think they'll make a deal in early january to extend some part. >> but are you saying this doesn't really hurt? if they go sometime next friday, nine days from now, will the market go down and come up or will it plunge? >> the republicans want to cut a deal before the cliff. >> i know that. but if this thing goes over the cliff, will there be term innocent damage to the economy like a new recession? >> republicans tell me they think if they can make a deal on rates early january the markets will fluctuate. >> i am hearing the markets have already reacted. >> for a couple days. couple days. >> yeah. >> i've heard another argument. a lot of people say, or at least people i've talked to, if they can't do it by the date, they can't count on anything gets done. it'll get worse every day. >> it has been for two years. >>